WesBanco Provides $32.45 Million Refinance Loan For Lourdes Senior Community In Waterford, MI

The asset involved in this transaction is a senior housing facility located at 2300 Watkins Lake Road in Waterford, MI. This facility comprises 221 units and spans across 38 acres. The transaction represents a refinance of existing debt, with the loan amount totaling $32,453,000.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $32,453,000
• Loan Amount: $32,453,000
• Loan Type: Refinance
• Units: 221
• Acres: 38.0
• Lender: WesBanco
• Landlord: Lourdes Senior Community
• Broker: Ziegler

Ziegler facilitated the closing of the financing for Lourdes Senior Community. The financing package includes $14.453 million in refunding revenue bonds and $18 million in bank draw-down bonds. The proceeds from this refinancing will address the existing 2019 bonds and support the construction of a new 60-unit independent living building on the property.